Grown Rogue International Inc. Stock Forecast
High volatility in Grown Rogue International Inc. stock price on Friday which ended trading at $0.82
(Updated on May 17, 2024)
The Grown Rogue International Inc. stock price gained 2.50% on the last trading day (Friday, 17th May 2024), rising from $0.80 to $0.82. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 11.56% from a day low at $0.735 to a day high of $0.82. The price has risen in 6 of the last 10 days and is up by 10.81% over the past 2 weeks. Volume fell on the last day by -117 thousand shares and in total, 632 thousand shares were bought and sold for approximately $518.62 thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the middle of a very wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 54.06% during the next 3 months and, with a 90% probability hold a price between $0.96 and $1.38 at the end of this 3-month period.
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GRUSF Signals & Forecast
There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Tuesday, April 30, 2024, and so far it has fallen -1.20%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not. The Grown Rogue International Inc. stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $0.749 and $0.674. A breakdown below any of these levels will issue sell signals.
Support, Risk & Stop-loss for Grown Rogue International Inc. stock
Grown Rogue International Inc. finds support from accumulated volume at $0.80 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move much during the day (volatility) and with periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved $0.0850 between high and low, or 11.56%. For the last week the stock has had daily average volatility of 10.24%.
Our recommended stop-loss: $0.791 (-3.49%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 13 days ago.)
Trading Expectations (GRUSF) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Grown Rogue International Inc. to open at $0.792, and during the day (based on 14 day Average True Range), to move between $0.751 and $0.89, which gives a possible trading interval of +/-$0.0688 (+/-8.38%) up or down from last closing price. If Grown Rogue International Inc. takes out the full calculated possible swing range there will be an estimated 16.77% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.83 (1.22%) than the support at $0.80 (2.44%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Grown Rogue International Inc. stock A Buy?
Grown Rogue International Inc. holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months.
Current score: 5.986 Strong Buy Candidate Unchanged
Predicted Opening Price for Grown Rogue International Inc. of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| $0.792 ( 3.46%) | $0.82 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GRUSF
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.88 | 6.91 % | |
| R2 | 0.84 | 2.95 % | ||
| R1 | 0.82 | 0.504 % | ||
| Current price: | 0.82 | |||
| Support | S1 | 0.759 | -7.42 % | |
| S2 | 0.739 | -9.86 % | ||
| S3 | 0.707 | -13.82 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0.83 | 1.22 % | ||
| Current price | 0.82 | |||
| Support | S1 | 0.80 | -2.44% | |
| S2 | 0.680 | -17.07% | ||
| S3 | 0.660 | -19.51% |
FAQ
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